DeFi Development Corp, listed on Nasdaq under ticker DFDV, has purchased 47,706 SOL for $5.8 million, bringing its total holdings to approximately 2.54 million tokens worth roughly $309 million. The company, formerly known as Janover, executed a strategic pivot in April 2025 to become a Solana-focused treasury vehicle under leadership from former Kraken executives. It now ranks as the second-largest public holder of Solana, trailing only Forward Industries. The firm has established a $300 million CHAD perpetual preferred stock program specifically designed to fund further SOL acquisitions, leveraging a staking strategy to generate compounding yields on its treasury positions.
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